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The largest generation is the Millennial Generation. Members of this group were born
after 1994 and are characterized by being heavily Hispanic, African-American, and
Asian.
Direct-to-consumer marketing by pharmaceutical companies and the vast amount of
health information available to patients on websites enable them to self-diagnose and
self-prescribe and saves the physician time. The trend toward more information in the
hands of the customer is diminishing.
Franchising requires a high level of investment by the franchisor in foreign markets.
A competitor's price is one of the most visible elements of its marketing strategy, and
you can often infer the pricing objective by carefully analyzing historical and current
pricing patterns.
When a company decides its positioning strategy, it is impossible to overposition it
against competition.
Personal attributes such as age, education, occupation, income, lifestyle, and gender are
frequently used to define, identify, and classify an individual.
When companies seek suppliers, they create lists in-house of qualified suppliers or use
resources like the Internet to identify potential candidates.
Marketing planning is the first phase of the CRM process cycle.
Dealing with complaints, resolving customer problems, and making sure the company
is meeting customer expectations are critical to ensuring customer satisfaction in the
B2B market.
Generation Y, people born between 1965 and 1977, tend to be pragmatic, optimistic,
good team players, savvy, and edgy in nature.
Mark runs a driving range in New York City. He has noticed that within a 15-minute
walk you can get to three competitors. Mark decides to look at his competitors' pricing
and then determine his best pricing strategy based on all of the information. Mark is
utilizing ___________________.
A. Penetration pricing
B. Price skimming
C. Target ROI
D. Competitor-based pricing
E. Value pricing
One way to extend the product is by creating ___________.
A. Additions to existing product lines
B. New names for the same products
C. Products from a different industry to your industry
D. Products that look like the competitions' but are not really different than the
competitions'
E. None of these
When Mom-And-Pop's Bakery decided to conduct research about its current and
potential customers, it decided to examine the demographic information for the
surrounding zip codes. The best kind of data for this research project would be _______
data.
A. Primary
B. Governmental
C. Secondary
D. Survey
E. Experimental
The simplest means of sales force organization is __________________.
A. Geographic orientation
B. Product organization
C. Customer type
D. Market organization
E. Workload method
The market entry strategy with the greatest long-term implication is __________.
A. Direct sales force
B. Strategic alliance
C. Joint venture
D. Direct foreign investment
E. Licensing
The market entry strategy with the greatest long-term implications is direct foreign
investment.
_________ is not a common customer concern.
A. Product need
B. Updated technology
C. Price
D. Company trust
E. More time
The firm's ________ articulates an organization's purpose, or reason for existence. It
should define the unique purpose that sets it apart from competitors and identifies the
scope of the company's operations, products, and markets.
A. Mission statement
B. Goals
C. Objectives
D. Vision
E. Value proposition
The marketing manager for Joe's Shoe-Mart has decided to conduct descriptive research
and knows that she needs primary data. Based on some preliminary research of trade
journals and interviews with customers, she knows what questions she wants to ask.
However, the customers she wants information from are spread out over many stores in
several states. The best technique for her to collect these data would be _______.
A. Interviews
B. Observation
C. Focus groups
D. Experiments
E. Surveys
Creating a perception about price merely from the image the numbers provide the
customer demonstrates ___________________.
A. Psychological pricing
B. One-price strategy
C. Variable pricing
D. Everyday low pricing (EDLP)
E. High/low pricing
Call Company has 12 call centers worldwide handling customer service issues for a
variety of companies. The firm is considering the purchase of a software firm that
serves the oil and gas industry. Most likely, this would be classified as ________ in
Ansoff's Product-Market Matrix.
A. Market diversification
B. Marketing strategy development
C. Market penetration
D. Product development
E. Market development
See Exhibit 2.11.
An appeal that uses ordinary folks doing ordinary things is a _____________ style.
A. Fantasy
B. Rational
C. Desire
D. Lifestyle
E. Slice of life
The ___________ industry best illustrates the power of strategic alliances.
A. Automobile
B. Telecommunications
C. Airline
D. Computer
E. Video gaming
The goal of the ________________ is to share resources, especially
remembering-based resources, to effect optimally profitable relationships between two
channel members.
A. Lieutenant
B. Retailer cooperative
C. Wholesaler cooperative
D. Channel captain
E. Partner relationship management (PRM) strategies
